airberlin achieves positive net result in the second quarter

(DGAP-Media / 20.08.2014 / 19:13)


First elements of restructuring program announced

- airberlin achieves positive net result

- Year-on-year operating result (EBIT) slightly improved

- Increased revenue due to stable passenger numbers and increased yield

- Cost reduction initiatives are showing results

- Sufficient liquidity for restructuring initiatives and to deal with
upcoming bond maturities

- airberlin remains committed to its three segments: Europe, touristic
and long haul - Substantial change in the way we operate the business
and serve the market

- Comprehensive restructuring program will be presented by the end of
September in full detail

- First elements include: focussed network, closer cooperation, narrow
body fleet harmonisation, streamlining operating platforms, close down
of crew stations, enhanced commercial capabilities

In a difficult market environment, airberlin achieved a slightly improved
operating result (EBIT) in the second quarter of the year with turnover up
by 2,9% to 1,146.4 million euros. Compared to the same quarter of the
previous year, airberlin was able to improve EBIT (Earnings before Interest
and Tax) to -6.9 million euros from -8.1 million euros in the previous
year. Taking into account other operating income of 4.8 million euros
(previous year 39.2 million euros) the annual comparison on operating level
shows an improvement of more than 35 million euros. Net profit was with 8.6
million euros, an increase of 46.6 million euros on the previous year
(-38.0 million euros).

In particular, airberlin was able to increase the yield by 3.0 % to 120.52
euros (previous year 116.97 euros. Offering increased by 2.9% flights and
3.5% available seat kilometres (ASK). In line with market conditions, load
factor was with 82.4%, 1.3% percentage points below that of the same
quarter the previous year. However, higher yield revenue per available seat
kilometre (RASK) was nearly stable with 7.16 cents (previous year 7.20
cents).

The cost reduction initiatives launched under Turbine last year are on
track and are also showing effects in the second quarter. Year on year,
airberlin managed to lower the costs per available seat kilometre excluding
fuel (CASK) by 2.8% to 5.50 cents (previous year 5.66 cents). Including
fuel, CASK fell by 3.7% to 7.24 cents (previous year 7.51). The cost
reduction was achieved despite a rise of 8.3% in expenditure for aviation
tax, as well as an increase in personnel cost of 13.9% driven by wage